According to the software company SynergyTop, 2020 is a decisive year for voice commerce as it offers a new sales channel for merchants and brands who want to sell their services and goods.
“It is essential to prepare your business for the integration of voice commerce in e-commerce applications. The brands and merchants need to rethink all the possible ways in which they can reach their target audience before their competitors and take the advantages of voice commerce”, the company states.
One and a half billion devices are acting as digital voice assistants, according to Juniper Research, and predicted to grow to 8 billion by the year 2023, since today’s tech giants are aiming to own the future of voice commerce by making it omnipresent across all kind of devices.
SynergyTop believes voice search not to be just a feature but a game-changer for e-commerce businesses. Since, voice commerce is AI-enabled and has completely changed the way we shop online and communicate, brands are simply forced to persistently opt for new ways for payment, security, upsell, promotion, and customer service without human intervention. Before long, voice commerce will overpower the market and become as ordinary as mobile phones.
The software company provides data that voice commerce technology is already picking and evolving, claiming:
- In the USA, voice commerce accounted for $2 billion in sales last year and more than 35% of households have purchased retail items and consumables through voice platforms.
- According to a recent survey, 22% of businesses have already released a voice application and 44% of businesses are planning to do the same this year.
- 29% of brands are offering purchases through voice, 31% have enabled renewals and 34% have enabled customers to access product/service information through voice.
- 71% of businesses acknowledge that voice commerce can enhance user experience and increase customer engagement, around 66% have already increased their conversion rate, 45% of them have enabled voice services to track the orders, and 32% provide search functionality through voice.
- 91% of businesses surveyed by SynergyTop are making huge investments in voice and 94% of them are planning to increase their investment in the next year.
Voice commerce has an extremely high possibility to be the game-changer for B2B and B2C e-commerce once the barriers to its adoption are defeated. According to Google, voice commands are already used in 20% of all the searches, and by the end of 2020, half of the online searches will be accounted for in voice commerce, SynergyTop explains. It is also expected that voice commerce will allow people to search for things online, just as they would reach out to a store clerk, but we will see how to adopt the technology to create simple, innovative, and memorable online experiences. For those who are willing to adapt to these changes and constantly reconsider all kind of ways they can take to reach their target audience before their competitors, will win.